Marketing and Marketing Plan

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Marketing and Marketing plan

Marketing planning, implementation and ControlPresentationByHannington BusingeIntroductionMarketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably. (The Chartered Institute of Marketing)McDonald (2007) agrees there is considerable confusion about what marketing is.He suggests that marketing is the process for:Defining marketsQuantifying the needs of the customer groups (segments) within these marketsDetermining the value proposition to meet these needsIntroductionCommunicating these value propositions to all those people in the organisation responsible for delivering them, and getting their buy-in to their rolePlaying an appropriate part in delivering these value propositions (usually only communications)Monitoring the value actually delivered.There needs to be a clear distinction between marketing as an activity or business function and marketing as a concept, often referred to as a marketing orientationMarketing planningMarketing planning is the series of activities that formulate the plans to achieve sustainable competitive advantage for an organisation.If a marketing orientation is to develop within organisations, attention should be given to each of the following:Create a customer focus throughout the businessListen to the customer

Marketing planningTarget customers preciselyMeasure and manage customer expectationsBuild customer relationships and loyaltyCommit to continuous improvementManage profitability Manage the marketing culture.

Marketings interface with other organisational functions

Marketers as planners, strategists and tacticiansMarketers play a key role as strategists within organisations, asking and finding solutions to questions such as:Which market should we be in?How should we compete in this market?How can we embrace new technologies to sustain our current markets?What is the best way to deal with the threat of a new competitor?How should we address changing consumer needs?The marketing strategist will seek the best way to deploy the resources available.

Marketing in theory and in practiceThe theory of marketing is relatively straightforward customer focus, co-ordinating resources, competitive advantage, planning towards goals all appear to be sound principles for any business or organisation to adopt.

Marketing in theory and in practiceHowever the reality of marketing in the dynamic and ever-changing real world, faced with constant international, national and local competitive pressures, is much more difficult. However, putting it into practice involves a great deal of skill and knowledge, especially when encountering implementation issues in particular marketing contexts.

The synergistic planning processSynergistic planning is the rational process of determining future actions based on a realistic consideration of the current situation and the outcome that is desired.Desired outcomeAnalysing the current situationDesigning possible routesDeciding what to do and how to do it.

The stages of the marketing planning process:, analysis, planning, implementation and control

Analysis: This covers the analysis of the marketing environment, both macro and micro, the industry, markets and competitor analysisPlanning: This covers formulation of strategies and marketing programmes with the identification of resources and timingImplementation: This covers the practical execution of the plan, with any changes required to achieve thisControl: This covers monitoring against planned targets, control mechanisms and performance metrics.

Sequential, cyclical and iterative approaches to planning

Outcomes of planning and plansThe outcomes of planning and the marketing plan are:A vision for the future of the organisationA mission to communicateOrganisational objectives covering a range of time periodsObjectives for each of the functional areas of the organisation.

Contents of the strategic marketing plan

So what does the strategic marketing plan look like? The content, structure, detail and complexity will vary from organisation to organisation. However, strategic plans tend to have common elements and the following components would be expected:

External analysis

Contents of the strategic marketing plan

Industry analysisInternal analysisOpportunity identificationObjective settingFormulation of strategyProposed marketing programmesImplementation and control.

Contents of the strategic marketing planA typical structure for a marketing plan is shown below (adapted from McDonald, 2007):1.0 Executive summary1.1 Current position1.2 Key issues

2.0 Corporate strategy2.1 Corporate mission/objectives2.2 Summary of overall position and corporate strategy

Contents of the strategic marketing plan3.0 External and internal analysis3.1 Overview of market3.2 Competitor analysis3.3 Future trends3.4 SWOT

Contents of the strategic marketing plan4.0 Marketing objectives4.1 Financial objectives4.2 Marketing objectives

5.0 Marketing strategy5.1 Market segmentation5.2 Competitive advantage5.3 Marketing strategy

Contents of the strategic marketing plan5.3 Marketing strategy5.4 Specific marketing programme 7PsProduct/Price/Promotion/PlacePeople/Process/Physical Evidence(see next)

Contents of the strategic marketing planImplementation

6.1 Schedule of key tasks6.2 Resource allocation6.3 Budgets6.4 Contingency

Contents of the strategic marketing plan7.0 Control and forecasting7.1 Assumptions made in the plan7.2 Critical success factorsBenchmarksMetrics7.3 Financial forecastsCostsRevenues

Barriers to planning

McDonald (2007) identifies the following ten principal barriers:

Confusion over marketing tactics and strategyIsolating the marketing function from operationsConfusion between the marketing function and the marketing conceptOrganisational barriers the tribal mentality failing to define SBUs correctlyBarriers to planning

Lack of in-depth analysisConfusion between process and outputLack of knowledge and skillsLack of a systematic approach to marketing planningFailure to prioritise objectivesHostile corporate cultures.